MSI GuaranteedWeather Partners with Understory to Offer Auto – Hail Safe, a Parametric Weather Insurance Product
This week, Understory released Auto – Hail Safe the first-ever data-driven hail insurance product for auto dealers to address billions of dollars in hail damage across the country. Using proprietary technology to provide cost-effective coverage, eliminate lengthy processing times, and process quick payouts Understory partnered with MSI GuaranteedWeather to bring Auto – Hail Safe to market.
Click HERE to read full release
Mitsui Sumitomo Insurance Co., Ltd. to Provide Instantaneous Indicative Pricing on the weatherXchange platform.
weatherXchange®, the platform which helps companies access index-based weather risk protection, is pleased to announce that Mitsui Sumitomo Insurance Co., Ltd., operating through its subsidiary, MSI GuaranteedWeather (MSI GW), will be providing indicative pricing as part of the launch of the weatherXchange Instantaneous Indicative Pricing service.
Click HERE to read full release
'Under the Weather'
An article featuring Vortex Insurance Agency, a weather insurance specialist and wholly owned subsidiary of MSI GuaranteedWeather
Hey, where’s the snow?
While much of the nation happily basked (at press time) in above-average winter temperatures and not much white stuff, others aren’t so thrilled.
Schoolchildren, for example. And ski resort operators, for whom the heart of the season never really attained a pulse this year.
Mother Nature plays a trick like this once in a while. But some ski operators don’t fall for it. They obtain weather insurance—snow coverage, more precisely—that compensates for times when Old Man Winter decides to sleep in.
Vortex Insurance Agency LLC, licensed in all 50 states, is one of the few insurers in this highly specialized field. The Kansas-based company offers a wide assortment of weather policies, addressing such natural perils as damaging temperatures, too much or too little rain, and an under- or overabundance of snow.
That matters because more than $1 trillion of America’s economy is affected in some way by weather events, according to MSI GuaranteedWeather, Vortex’s parent, citing U.S. Department of Commerce statistics.
Click here to download the entire article in a PDF. Also, you will find a sound bite on page one with an interview featuring Megan Green, a licensed Vortex Agent, discussing snow insurance and the business in general.
MSI Guaranteed Weather Partners with HDI-Gerling Industrie Versicherung AG to Offer Weather Insurance in Germany
OVERLAND PARK, KS – January 10, 2012 – MSI GuaranteedWeather, LLC (MSI GW), an international provider of weather risk management products, is pleased to announce their successful collaboration with HDI-Gerling Industrie Versicherung AG (HG-I), a leading supplier of German insurance solutions on their recently launched weather insurance initiative.
Click here to read full release.
Weather in the News
March 12, 2015 - Record cold in parts of the U.S. chilled retail sales in February as the world's largest economy began the year on weak footing. Purchases unexpectedly dropped 0.6 percent, a third consecutive decline, Commerce Department figures showed Thursday in Washington. The median forecast of 86 economists surveyed by Bloomberg called for a 0.3 percent gain. The decrease was broad-based, with 9 of 13 major categories retreating.
March 6, 2015 - Claims resulting from brutal winter weather in the U.S. coupled with typhoon and flood-related damage in Asia helped create global insured losses of over $1 billion in the month of February...
March 4, 2015 - About 160 people in the Pikes Peak region won a Jack Frost jackpot, thanks to 5 inches of snow that fell at the Colorado Springs Airport on February 21. Under a snow and ice promotion put on by Luisa Graff Jewelers, customers who purchased items at full price between January 17 and Feburary 14 would get them for free if it snowed more than 3 inches at the airport on February 21.
February 24, 2015 - With yet another winter storm marching across the U.S. Monday, this time coating large parts of the South in a thick glaze of ice, along with more frigid, record-breaking temperatures in New York and Boston, the epic winter of 2014-15 marches on. But it isn't just affecting our thermometers. Each day of cold and snow is adding more to a mounting national bill, according to experts who pegged the cost of the winter so far at between $1 and $5 billion.
February 5, 2015 - Weather is a big driver of sales at Canadian retailers, so Mark's is hitching its discounts to cold weather forecasts. For the next two weeks, stores in the GTA will offer discounts based on the estimated daily low as predicted by The Weather Network. For example, if the forecasted low is -10ºC, take 10% off your purchase.
February 6, 2015 - Severe winter weather that slugs across much of the United States during winter months sways the flow of money - how much is spent, lost and even how much is gained.
"Severe winter weather caused 15 percent of all insured auto, home and business catastrophe losses in the United States in 2014," Dr. Robert Hartwig, president of the Insurance Information Institute, said in a press release
February 2, 2015 - Art Van Furniture in Orland Park, IL just finished their "Let It Snow" promotion, which offered refunds to customers if it snowed at least 3" on Super Bowl Sunday at Chicago O'Hare airport. It ended up snowing 19" on February 1, 2015 , so the store is preparing to refund about $2.4 million to customers in the Chicago area; Toledo, Ohio; and Fort Wayne Indiana. The refund covers the purchase price, sales tax and delivery fee. Purchases must have been made on January 1, 2, 3, or 17 to be eligible for the promotion.
'Winter storm Linus drops snow and the possibility of $2.5 million in full refunds on all purchases, to nearly 3,000 Art Van Furniture shoppers in Chicago, Fort Wayne, and Toledo!'
February 1, 2015 - As winter storm Linus sweeps across the Midwest, a blizzard of savings totaling $2.5 million may also be snowing down on almost 3,000 Art Van Furniture shoppers in Chicagoland, Fort Wayne and Toledo.
January 8, 2015 - Hot weather is likely to increase the number of days with weight restrictions on cargo planes and even airliners, delaying gifts, air travel and slicing into airlines’ bottom lines, according to research presented at the American Geophysical Union’s annual meeting.
“Temperature is a big factor in airplane performance and also one of our most confident (future) climate projections,” Ethan Coffel, a PhD candidate at Columbia University and lead author of the new findings, said.
December 16, 2014 - The Monroe County Fair enjoyed another successful financial year. The fair purchased rain insurance for four days of the event to protect it from adverse weather. It received its payment from the first day when it stormed just a few hours before Justin Moore’s evening concert in the grandstand. Even with thunderstorms and the lack of a Hunter Hayes-like blockbuster concert, the seven-day fair had an attendance mark of 192,357 and a profit of $249,819.
October 29, 2014 - Winter is coming. So now is a good time to think about weather and its effect on businesses. As a long-term investor, The Motley Fool's Brendan Mathews says he wouldn't buy or sell a stock based on random weather patterns. But weather does have a big impact on our economy and businesses.
Weather Protection on Fox News
Click the video to watch a Fox News interview with our President and Co-CEO, Brad Davis, that discusses how weather contracts can protect businesses from adverse weather.